Intel profit beats on higher demand for data center chips

Net income rose to $5.01 billion, or $1.05 per share, in the second quarter ended June 30 from $2.81 billion, or 58 cents per share, a year earlier. bit.ly/2mLLApb

Net revenue rose 14.9 percent to $16.96 billion.

Excluding items, the company earned $1.04 per share.

Analysts on average were expecting adjusted earnings of 96 cents per share and revenue of 16.77 billion, according to Thomson Reuters I/B/E/S.

The company is in the midst of a CEO search following the ouster of Brian Krzanich last month after an investigation found he had a consensual relationship with an employee in breach of company policy. (Reporting by Sonam Rai in Bengaluru and Stephen Nellis in San Francisco; Editing by Anil D'Silva)